The latest Bitcoin (BTC) price pump, which has seen the world’s largest cryptocurrency rally into the mid-$30,000s per token, has obliterated millions worth of short positions.
Indeed, in the last two days, $107 million worth of Bitcoin futures short positions have been liquidated across major cryptocurrency exchanges, according to crypto derivatives analytics website CoinGlass.
Around $60 million in short position have been liquidated on Tuesday alone, the highest daily tally since the 16th of March.
The Bitcoin futures leverage funding rate recently rose to 0.03% on decentralized cryptocurrency derivatives exchange dYdX, its highest level since the end of March.
(by Joel Frank)
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